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givi [52]
3 years ago
12

Peterson Company's petty cash fund was established on January 1 with $500. On January 31, a count of the fund revealed: $105 in

cash remaining and vouchers for miscellaneous expenses totaling $400. If the entries to record the disbursements and to replenish the fund are combined, what effect will the resulting entry have on the elements of the’ financial statements?
Business
1 answer:
mr_godi [17]3 years ago
7 0

Answer:

(395) NA (395)NA 400 (395)(395) OA

Explanation:

Data provided in the question  

Petty cash fund balance = $500

Remaining cash balance = $105

Vouchers for miscellaneous expenses = $400

Sp by considering the above information, the effect would be and the balance would be  

= Petty cash fund balance - remaining cash balance

= $500 - $105

= $395

So the effect would be recorded as an operating activity for $395 plus it also records the miscellaneous expense for $400 and another financial statement is also affected  

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Which of the following is a national recruiting network and suite of Web-based recruiting and career services automation tools f
aniked [119]

Answer:

NACElink Network

Explanation:

The NACElink Network is a national collaborative recruiting network of career centers that includes a suite of web-based recruiting and career services automation tools for use by colleges and employers.

Other options are incorrect as CareerBuilder is just an employment website in the United states, Monster.com is a global employment website owned and operated by Monster Worldwide, Inc. and AllianceQ database is just a database for jobs.

6 0
3 years ago
Any improvement in overall production technology that permits more output to be produced with the same level of inputs causes se
Grace [21]

A rightward shift of the supply curve so that more is offered at each price is the cause of any improvement in overall production tech that permits more output to be produced with the same level of inputs causes

The rightward shift of the supply curve usually indicates an increase in an input.

8 0
3 years ago
Read 2 more answers
Hiro owns and operates a small business that provides economic consulting services. During the year he spends $57,000 on travel
tino4ka555 [31]

Answer: D. Since Hiro’s economic profit is negative, he would be better off if he didn’t operate the consulting business and taught economics instead.

Explanation:

Economic Cost is calculated by taking into account all costs, both Implicit and Explicit. Implicit Costs are also known as Opportunity costs and are referred to as the income you could be earning if you were doing the alternative.

Hiro's Economic Cost can hence be calculated by,

Economic Cost = Implicit costs + Explicit Costs

                            = (50,000 + 100) + 57,000

                            = <em>$107,000</em>

Subtracting that from his Revenue per year gives,

= 100,000 - 107,000

= -<em>$7,000</em>

Hiro is experiencing an Economic Loss by operating his business and would be better off Teaching Economics at the small local college.

8 0
3 years ago
. For a new product, sales volume in the first year is estimated to be 50,000 units and is projected to grow at a rate of 7% per
Alecsey [184]

Answer:

The NPV value of the profit over the three year period is $9,900,966.32  

Explanation:

The NPV of the profit over three year period was computed by first of all incorporating all growth assumptions relating to sales volume,sales price,variable and fixed costs.

With the assumptions incorporated , I calculated the sales revenue,variable and fixed costs per year,hence the profit figure is sales less variable and fixed costs.

Finally I discounted the profit to present using the formula 1/(1+r)^N,where r is the rate of 4% and N the relevant year.

Kindly find attached spreadsheet

Download xlsx
5 0
2 years ago
Monty currently has a Visa card from his bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash ad
PilotLPTM [1.2K]

The annual percentage yield on Monty's default or penalty rate equals to 42.58%.

<h3>What is the meaning of APY?</h3>

APY is an acronym for Annual percentage yield.

The percentage yield referred to the real rate of return that is earned on an investment after taking into account the effect of compounding interest.

Given that the Visa card has an original default or penalty rate of 36%, the annual percentage yield on Monty's default or penalty rate equals to 42.58%.

Read more about annual percentage yield

<em>brainly.com/question/13012002</em>

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3 0
1 year ago
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